Mera Cannabis Corp. and various affiliates
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CL-25-00753544-0000
- Industry
- Cannabis · Cannabis producers
Mera Cannabis Corp. and five affiliates — Greenleaf Productions, Avana Labs, Cannaway Clinics, Countryside Cannabis and Vivariant Laboratories — a vertically integrated cannabis group engaged in cultivation, extraction, processing, testing and sale, obtained CCAA protection from the Ontario Superior Court of Justice (Commercial List) on October 23, 2025 in file CV-CL-25-00753544-0000. Ernst & Young Inc. is Monitor, with Bennett Jones LLP as its counsel. The Initial Order stayed proceedings to November 3, 2025, approved $400,000 of DIP financing and granted administration, DIP lender's and directors' charges capped at $200,000, $400,000 and $1,000,000. A sale and investment solicitation process approved December 5, 2025 ran to a March 2, 2026 bid deadline. A reverse vesting order in favour of Aggregated Investments Inc., with 1001555284 Ontario Inc. as ResidualCo, was granted April 8, 2026 and amended and restated on May 5, 2026. The Monitor has moved for a CCAA termination and fee approval order.
Court amended and restated the reverse vesting order on the Monitor's motion brought by the Fifth Report.
Source: Amended and Restated Approval and Reverse Vesting Order
A further order issued at the May 5, 2026 hearing alongside the amended and restated reverse vesting order.
A second report of the same date recorded continued ordinary-course operations while the group worked on Closing preparations, Health Canada review, CRA tax matters, contract disclaimers, KERP payments, receivables collection and DIP Lender reporting.
Source: Fifth Report of the Receiver
Fifth Report reported activities since the Fourth Report and Supplement, the Amendment to the Subscription Agreement, receipts and disbursements from March 30 to April 19, 2026, and sought an amended and restated RVO plus a CCAA termination and fee approval order.
Source: Motion Report of the Monitor
A second order of that date also issued; the record distinguishes no separate terms.
Source: Ancillary Matters Order
Reporting two days before the reverse vesting order covered the finalized Subscription Agreement, tax discussions with the DOJ, and Vortex's overdue account receivable owed to Greenleaf.
A further order was granted on February 11, 2026, between the SISP Phase 1 and bid deadlines; its terms are not set out in the record.
Source: Letter of Credit Order
Monitor reported nine days before the Phase 1 deadline under the SISP and a week before the February 11, 2026 order.
Source: Third Report of the Monitor
SISP Order approved a sale and investment solicitation process, fixing a Phase 1 deadline of 5:00 p.m. on February 13, 2026 and a bid deadline of 5:00 p.m. on March 2, 2026.
Source: SISP Order
The Monitor's reporting records the same SISP Order as the authority under which the solicitation process was run.
Monitor reported to the Court three days before the sale process motion was heard.
Source: Second Report of the Monitor
First post-filing report: operations maintained without significant disruption since the Initial Order, with the Mera Group stabilizing the business under the CRO's direction.
Source: First Report of the Monitor
Initial Order granted: stay to November 3, 2025, Ernst & Young Inc. appointed Monitor, a CRO engaged, $400,000 DIP approved, and administration, DIP lender's and directors' charges granted.
Source: Initial Order
Report of the court officer filed two days before the CCAA application, describing the Mera Group's cultivation, extraction, processing, testing and retail operations, including Countryside's 107.3 acres.
Source: Fourth Report of the Monitor
Precedent note
On September 15 Justice Myers approved a reverse vesting order while asking whether its reasons were good ones. Across fifteen proceedings this year, the reasons filed come down to permits and licences that take weeks to a year to replace, tax losses and transfer tax, contracts needing consent, a Crown deemed trust, and buyers who would buy no other way.
Outcome brief
Mera Cannabis: the lender credit-bids $75 million and takes the company
Aggregated Investments, owed $87.65 million, brought the Mera group into the CCAA. With no other final bid in the monitor's sale process, it became Mera's sole shareholder by reverse vesting order, credit-bidding $75 million of its debt; the excluded liabilities passed to a numbered company that went bankrupt on July 27 holding $1.
Debtor
Mera Cannabis Corp. and various affiliates
Applicant
Aggregated Investments Inc.
Monitor
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 7 orders, Oct 2025 – May 2026 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorEY | Bennett Jones LLP | 11 Feb 2026 | Order · 11 Feb 2026 |
| ApplicantAggregated Investments Inc. | Thornton Grout Finnigan LLP | 17 Oct 2025 | Application · 17 Oct 2025 |
| CreditorBlanchard & Company Ltd | Witten LLP | 6 May 2026 | Service list · 6 May 2026 |
| CreditorDr. Yong Sun Lee | Vaturi & Cho LLP | 6 May 2026 | Service list · 6 May 2026 |
| CreditorMinuteman Press International | Lerners LLP | 6 May 2026 | Service list · 6 May 2026 |
| CreditorRobert Thomas Fraleigh | Madhany Law Pc | 6 May 2026 | Service list · 6 May 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| Court-ordered charges | ||||
| 1 | Court-ordered charges | Directors' Charge — Third – Directors’ Charge (to the maximum amount of $1,000,000) | $1M | Initial Order |
| 1 | Court-ordered charges | |||
| 1 | Court-ordered charges | |||
| 1 | Court-ordered charges | |||
| Pre-filing debt | ||||
| 4 | Secured | |||
| 4 | Secured | |||
5 more claims in 2 classes The stack holds Court-ordered charges and Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale approvedAmended and Restated Approval and Reverse Vesting Order · 5 May 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Aggregated Investments Inc.ResidualCo: 1001555284 Ontario Inc. | not stated | Approved5 May 2026 | Amended and Restated Approval and Reverse… |
Unsecured creditors: no recovery.EstimatedFifth Report of the Receiver · 27 Apr 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | creditors (pre-CCAA claims) | — | no recoveryconditional | Estimatedper the monitor | Fifth Report of the Receiver · 27 Apr 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
1 engagement · 1 firm — Ernst & Young Inc.Fifth Report of the Receiver · 28 Apr 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Ernst & Young Inc.Monitor | — | — | — | Fifth Report of the Receiver · 28 Apr 2026 |
1 blurred figure above
What the firm billed — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$6.81M
As at 4 Feb 2026Third Report of the Monitor
Cash on hand
As at
Professional fees
As at
2 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| 1001555284 Ontario Inc. - Certificate of Appointment | PDF · Subscribers | |
| 1001555284 Ontario Inc. - Creditors' Package | PDF · Subscribers | |
| CannaWay Clinics Inc. - Certificate of Appointment | PDF · Subscribers | |
| CannaWay Clinics Inc. - Creditors' Package | PDF · Subscribers | |
| Monitor's Discharge Certificate, dated July 28, 2026 | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Service List (Word Version) | PDF · Subscribers | |
Amended and Restated Approval and Reverse Vesting Order
| PDF · Subscribers | |
CCAA Termination and Fee Approval Order
| PDF · Subscribers | |
Fifth Report of the Receiver
| PDF · Subscribers | |
Motion Report of the Monitor
| PDF · Subscribers | |
Ancillary Matters Order
| PDF · Subscribers | |
Approval and Reverse Vesting Order
| PDF · Subscribers | |
| Factum of the Monitor | PDF · Subscribers | |
Redline version of Ancillary Matters Orders
| PDF · Subscribers | |
Redline version of Approval and Reverse Vesting Orders
| PDF · Subscribers | |
Supplement to the Fourth Report of the Monitor
| PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
Letter of Credit Order
| PDF · Subscribers | |
| Motion Record of the Monitor | PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
SISP Order
| PDF · Subscribers | |
Sale and Investment Solicitation Process
| PDF · Subscribers | |
Second Amended and Restated Initial Order
| PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
| Motion Record of the Applicant | PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
| List of Creditors | PDF · Subscribers | |
| Motion Records - Comeback Hearing | PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor
| PDF · Subscribers | |
Application Record Part 1
| PDF · Subscribers | |
Application Record Part 2
| PDF · Subscribers | |
Application Record Part 3
| PDF · Subscribers | |
Application Record Part 4
| PDF · Subscribers | |
Application Record Part 5
| PDF · Subscribers | |
Application Record Part 6
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Mera Cannabis Corp. and various affiliates” (CCAA), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/mera-cannabis-corp-and-various-affiliates